The Federal Reserve Board announced the members of its Community Depository Institutions Advisory Council (CDIAC) on Wednesday, which included Alvin J. Cowans President/CEO of McCoy Federal Credit Union and LSCU Chairman.

CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Unlike the Federal Advisory Council, CDIAC is not a statutory body, but it performs a parallel function in providing first-hand input to the board on the economy, lending conditions, and other issues. Members are selected from representatives of commercial banks, thrift institutions, and credit unions serving on local advisory councils at the 12 Federal Reserve Banks.

One member of each of the Reserve Bank councils serves on CDIAC, which meets twice a year with the Federal Reserve Board in Washington